Computers

Garden City, N.Y. -- Sabre Real Estate Group said it has arranged five retail leases on Long Island totaling almost 20,000 sq. ft.

In Commack, N.Y., women’s apparel retailer Bolton’s leased 2,500 sq. ft. in the Mayfair Shopping Center for a store that is expected to open in June. Levin Management Corp., of Plainfield, N.J., owns the shopping center.

Minneapolis -- Best Buy Co. announced that founder Richard Schulze would step down as chairman after an independent board investigation found that he had failed to report allegations of personal misconduct by former CEO Brian Dunn to the board's audit committee.

Schulze will serve out the remainder of his term as director. Best Buy said its board has elected director Hatim Tyabji to succeed Schulze as chairman, effective at the conclusion of the annual meeting on June 21.

New York -- Microsoft Corp. will open a store in Bridgewater Commons, Bridgewater, N.J., on May 16. The store will be located on the mall’s second level, close to the existing Apple store.

The computer giant is also moving into Massachusetts, with a store in Boston. The opening date has not been announced.

We’re pleased to announce that we’ll be opening a new Microsoft Store at The Shops at Prudential Center in Boston!,” the company wrote on its Facebook page and website.
 

Bethesda, Md. -- Sax Realty said that Joe’s Crab Shack will open in the Hunt Valley Towne Centre, north of Interstate 695, in Bethesda, Md.

The center is anchored by Wegman's, Burlington Coat Factory, Dick's Sporting Goods, Best Buy, DSW and Regal Theatres. This will be the fourth new Joe's to open in Maryland, joining restaurants in Greenbelt, Bel Air and Arundel Mills which opens summer 2012.

BOCA RATON, Fla. — Sales continued to decline at two of Office Depot’s three divisions during the first quarter with weakness most pronounced in the retail business.

Total company sales declined 3% to $2.9 billion and were negatively affected by the ongoing struggles of the 1,123 unit North American retail division. Profits increased to $41 million or 14 cents a share compared with a prior year loss of $15 million or five cents a share.

Sunrise, Fla. -- Indianapolis-based Simon Property Group announced that Sawgrass Mills, the largest outlet, value retail and entertainment destination in the United States with more than 350 stores, will soon break ground on its newest phase of development to increase the footprint of The Colonnade Outlets at Sawgrass Mills. 

This milestone also represents the soon-to-be-completed 140,000-sq.-ft. retail expansion of the south side of the property.

New York -- RadioShack Corp. on Tuesday reported a loss for the first quarter of $8 million, hurt by weakness in its Sprint postpaid wireless business and weak demand for prepaid wireless handsets, laptops and home entertainment accessories.

The electronics retailer said its net loss for the quarter ended March 31, 2012, was $8 million compared with net income of $35.1 million a year earlier.

Sales fell 0.9% to $1.01 billion, while analysts had expected $1.06 billion.

Minneapolis -- Best Buy Co. has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.

As part of Best Buy’s commitment to transparency, the company said the board will also publicly announce the selected search firm and will post the position on the company website. The final search firm selection will be announced in the next few weeks.